Magyar Bancorp reports Q4 net income $2.185M ($0.34 EPS); FY net income $7.709M ($1.20 EPS)

Magyar Bancorp, Inc.

2023-FY EPS reported $1.20

Net income for Q4 ended Sep 30, 2023 was $2.185M, down 10.1% YoY from $2.430M; diluted EPS $0.34 vs $0.36.
Full fiscal year net income $7.709M, down 2.7% from $7.919M; diluted EPS $1.20 vs $1.17.
Net interest margin compressed 47 bps to 3.36% for Q4; interest expense surged 312% to $3.6M due to rate hikes.
Non-performing loans increased 42.8% to $5.1M during Q4; allowance as % of NPLs dropped to 163.8%.
Board declared quarterly cash dividend of $0.04 per share, paid Nov 24 to record Nov 9; stock repurchased 25,468 shares at avg $10.91 in Q4.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Magyar Bancorp, Inc. reported the three months ended September 30, 2023 results: net income $2,185,000, EPS $0.34.

Period: the three months ended September 30, 2023
Net income: $2,185,000
EPS: $0.34
Result: reported results

Exact text from the filing

The Company reported $2,185,000 in net income for the three months ended September 30, 2023 compared with net income of $2,430,000 for the three months ended September 30, 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Magyar Bancorp, Inc. reported the year ended September 30, 2023 results: net income $7,709,000, EPS $1.20.

Period: the year ended September 30, 2023
Net income: $7,709,000
EPS: $1.20
Result: reported results

Exact text from the filing

The Company also reported net income of $7,709,000 for the year ended September 30, 2023 compared with $7,919,000 for the year ended September 30, 2022.

View on SEC.gov

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Magyar Bancorp, Inc. filing history →

Source: SEC EDGAR

accession 0001174947-23-001257

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